Correlation Between Mackolik Internet and Tumosan
Can any of the company-specific risk be diversified away by investing in both Mackolik Internet and Tumosan at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Mackolik Internet and Tumosan into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Mackolik Internet Hizmetleri and Tumosan Motor ve, you can compare the effects of market volatilities on Mackolik Internet and Tumosan and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in Mackolik Internet with a short position of Tumosan. Check out your portfolio center. Please also check ongoing floating volatility patterns of Mackolik Internet and Tumosan.
Diversification Opportunities for Mackolik Internet and Tumosan
0.13 | Correlation Coefficient |
Average diversification
The 3 months correlation between Mackolik and Tumosan is 0.13. Overlapping area represents the amount of risk that can be diversified away by holding Mackolik Internet Hizmetleri and Tumosan Motor ve in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Tumosan Motor ve and Mackolik Internet is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on Mackolik Internet Hizmetleri are associated (or correlated) with Tumosan. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Tumosan Motor ve has no effect on the direction of Mackolik Internet i.e., Mackolik Internet and Tumosan go up and down completely randomly.
Pair Corralation between Mackolik Internet and Tumosan
Assuming the 90 days trading horizon Mackolik Internet is expected to generate 1.38 times less return on investment than Tumosan. But when comparing it to its historical volatility, Mackolik Internet Hizmetleri is 1.17 times less risky than Tumosan. It trades about 0.06 of its potential returns per unit of risk. Tumosan Motor ve is currently generating about 0.07 of returns per unit of risk over similar time horizon. If you would invest 4,536 in Tumosan Motor ve on November 2, 2024 and sell it today you would earn a total of 6,754 from holding Tumosan Motor ve or generate 148.9% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 99.6% |
| Values | Daily Returns |
Mackolik Internet Hizmetleri vs. Tumosan Motor ve
Performance |
| Timeline |
| Mackolik Internet |
| Tumosan Motor ve |
Mackolik Internet and Tumosan Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Mackolik Internet and Tumosan
The main advantage of trading using opposite Mackolik Internet and Tumosan positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Mackolik Internet position performs unexpectedly, Tumosan can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Tumosan will offset losses from the drop in Tumosan's long position.| Mackolik Internet vs. Turkiye Kalkinma Bankasi | Mackolik Internet vs. Bms Birlesik Metal | Mackolik Internet vs. Sodas Sodyum Sanayi | Mackolik Internet vs. Politeknik Metal Sanayi |
| Tumosan vs. Creditwest Faktoring AS | Tumosan vs. Qnb Finansbank AS | Tumosan vs. Bms Birlesik Metal | Tumosan vs. MEGA METAL |
Check out your portfolio center.Note that this page's information should be used as a complementary analysis to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Stock Screener module to find equities using a custom stock filter or screen asymmetry in trading patterns, price, volume, or investment outlook..
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